Interior abatement on the 110,743-sf two-story department storeis now under way. Nathan Wood, first vice president for CB RichardEllis in Dallas, tells GlobeSt.com the store, which is a raritybecause it has a basement, and connected parking garage will comedown at year's end or early 2009 to ready the land for the rebuild,the Shops at Camp Bowie. He's not discussing the all-in projectcost, but the property as it now stands is assessed at $2.25million and current construction prices for higher end retail havebeen topping $200 per sf in the region.

Wood and CBRE sales assistant Ryan Byrne will unveil the projectat October's ICSC convention in San Antonio. Armstrong's localbrokers, who also negotiated the acquisition, are in talks with abank for a 37,820-sf ground-leased pad site at the Hilldale Roadtraffic signal. The other pad site, 21,000 sf, at the RidgleaAvenue signal is reserved for a 7,500-sf restaurant to anchor theproject. If all goes as planned, the Shops at Camp Bowie will openin late summer or early fall 2009.

Wood says the preleasing pipeline would fill about 25% of theupcoming retail space. He estimates the 50% mark will be hit byyear's end. The shop quote is $30 per sf, triple net, andground-leased pads are $5.50 per sf, triple net.